Task:
Your company, which is fully operational now, is growing at a tremendous rate. Your team has decided that expanding your business would increase your company’s value and profit. You will need to borrow money from the bank to support your expansion plans. The bank requires a business report that describes the current problems you are experiencing and recommendations on how your expansion plan will fix these problems. Your expansion could be to increase your current location size, add more physical locations, offer more services online, or move to an international market. Your team will need to decide the best expansion for the type of business you are operating, and the total amount of the loan needed.
Each team member is tasked with a different company problem to research and provide a recommendation for the expansion. Once your team has completed their individual analysis (Part A) which is the body of the report, the team will come together to complete the final business report with the remaining sections (Part B of the assignment
Plan
1. Each team member will choose a different problem to solve (only one problem per team member) for the analysis section of the report:
physical space is limited
poor working environment
employees are overworked and putting in long hours (disgruntled employees)
equipment is not efficient to support the current or future growth (be specific on what equipment)
current communication tools for a smaller team are barely adequate
current systems (i.e. accounting, inventory, supply chain, project management scheduling or others) are messy and uncoordinated.
current technology used is no longer efficient and appropriate for the expansion (define the technology such as marketing, accounting, privacy and security, customer relationship management, booking, and other technologies) negative customer feedback and customer service concerns limited growth for your business in the current market that may be related to location, type of customer, or limited product or service and/or the customer is demanding something different poor delivery services
inventory management issues and/or cost of supplies has grown
competition has increased with new competitors in your area
new rules and regulations (compliance responsibilities) have been imposed by government
day to day operations have slowed with high error rates (manual mistakes)
Plan
1. Each team member will choose a different problem to solve (only one problem per team member) for the analysis section of the report:
physical space is limited
poor working environment
employees are overworked and putting in long hours (disgruntled employees)
equipment is not efficient to support the current or future growth (be specific on what equipment)
current communication tools for a smaller team are barely adequate
current systems (i.e. accounting, inventory, supply chain, project management scheduling or others) are messy and uncoordinated.
current technology used is no longer efficient and appropriate for the expansion (define the technology such as marketing, accounting, privacy and security, customer relationship management, booking, and other technologies) negative customer feedback and customer service concerns limited growth for your business in the current market that may be related to location, type of customer, or limited product or service and/or the customer is demanding something different poor delivery services
inventory management issues and/or cost of supplies has grown
competition has increased with new competitors in your area
new rules and regulations (compliance responsibilities) have been imposed by government
day to day operations have slowed with high error rates (manual mistakes)
2. For the recommendation section of the report, you will need to provide a solution for the problem you have selected in #1. Each team member will have a different solution for their problem. For example, you may need to find another location, buy new equipment, hire more staff or implement new technology.
3. Research your company problem and possible solution:
Your research must include at least two main sources, however, incorporating more than the minimum number of two sources increases the credibility of your claims. You must use these two main sources within your analysis and/or recommendations.
Your research must include at least two main sources, however, incorporating more than the minimum number of two sources increases the credibility of your claims. You must use these two main sources within your analysis and/or recommendations.
Sources should be published within the past seven years. Your sources must be credible, and you will be evaluated on the reliability and relevance of your sources. Do not use video material as sources.
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